Viking Global Investors LP, managed by Andreas Halvorsen, recently executed a significant transaction involving Alphabet Inc. Class A ((GOOGL)). The hedge fund reduced its position by 2,383,917 shares.
Recent Updates on Alphabet Inc. Class A stock
Alphabet Inc. Class A (GOOGL) has reported strong Q4 2024 financial results, with a 14% increase in annual revenue to $350 billion, mainly due to advancements in AI and a 30% rise in Google Cloud revenue. YouTube advertising revenue grew by 14%, despite a 4% decline in network advertising revenue. The company’s operating income and net income increased by 31% and 28%, respectively. Alphabet plans to invest $75 billion in capital expenditures for AI and infrastructure, though it anticipates potential revenue challenges in 2025 due to currency fluctuations and the leap year effect. Hedge fund interest in the stock has been mixed, with some funds increasing their positions significantly. The year-to-date price performance of the stock shows a slight decline of approximately 2-3%, with a current market cap of around $2,278.6 billion.
More about Alphabet Inc. Class A
YTD Price Performance: -2.22%
Average Trading Volume: 28,719,287
Current Market Cap: $2278.6B